Crowdfunding platform CoAssets incorporates real estate subsidiary

COASSETS, a Singapore-founded startup listed on the Australian Securities Exchange, said on Tuesday that it has incorporated a wholly owned subsidiary, CoAssets Real Estate (Care), as part of the company's growth strategy.

CoAssets is a real estate crowdfunding platform launched in July 2013.

Care, a real estate agency, will provide a full spectrum of real estate services, including marketing, sales, analysis and valuation. It will also enable companies to liquidate real estate assets that have been collateralised within Singapore and the region.

Getty Goh, chief executive officer of CoAssets, said: "As a crowdfunding platform, user protection is one of our key focuses. We are now looking at crowdfunding deals that are backed by assets as a way to protect our users amidst economic uncertainty. Given this move towards secured crowdfunding and our market position as a real estate crowdfunding platform, having a real estate agency fits in well into our overall business strategy."